How much money can you gift to your 11 children without any gift tax liability?

Question

if you and your wife of 45 years have accumulated 4 milliion dollars

Answer 1

Each year you and your spouse can separately gift $12,000 each to each of your children.

Also you have life time exclusion of $ 1 million for the gifts that exceed the exclusion limit of $12,000. Read http://taxipay.blogspot.com/2008/03/us-g...